Back to today’s briefing

Story perspectives

Market Slide Threatens Wealthy Spending, Highlights Inequality

6/27/2026

42 3 Full Breakdown

Summary

Story summary

Mark Zandi, Moody's chief economist, warned that a market drop could curb wealthy spending and trigger a slowdown.
U.S. household spending now depends on earners making $200,000 or more annually.
Top-5% outlays rose 6.5% in the year ending Q1 2026, or 4% after inflation.
Spending by the bottom 80% was unchanged after inflation.
Almost 90% of corporate equities and mutual funds are owned by the top 20% of earners.

1 of 1

Story summary

Mark Zandi, Moody's chief economist, warned that a market drop could curb wealthy spending and trigger a slowdown.
U.S. household spending now depends on earners making $200,000 or more annually.
Top-5% outlays rose 6.5% in the year ending Q1 2026, or 4% after inflation.
Spending by the bottom 80% was unchanged after inflation.
Almost 90% of corporate equities and mutual funds are owned by the top 20% of earners.